Nvidia stock was falling in Monday's premarket as investor anxiety about the looming U.S. tariffs deadline sparked a broader market selloff.
Shares in the artificial-intelligence chip maker slid 0.8% to $158.07 ahead of the opening bell. Futures tracking the S&P 500 were down 0.4%.
The drop could delay Nvidia from reaching a stock-market milestone -- as of Thursday's close, the company had a market capitalization of $3.89 trillion, just shy of the record $3.915 trillion closing market cap reached by Apple in late December.
Other semiconductor stocks also looked set to open lower. Advanced Micro Devices fell 1.3%, Broadcom slid 0.8%, Intel dropped 1.2%, and Qualcomm was down 0.6%.
President Donald Trump's promise to start setting universal tariffs has put the market on edge, sparking a move away from equities early Monday. Investors have been hoping for more clarity on how the levies could affect the semiconductor sector, with Nvidia CEO Jensen Huang warning in May that the company would take a $15 billion hit to sales because of U.S. curbs on chip exports to China.
Another factor weighing on Nvidia stock could be earnings from key partner Hon Hai Precision Industry, which does business as Foxconn. The Taiwanese company reported record second-quarter revenue on Saturday, but it also flagged macroeconomic and geopolitical conditions and exchange-rate fluctuations as potential headwinds. Its Taipei-listed shares closed a touch lower on Monday.
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